Basin Water Completes Acquisition of Mobile Process Technology, Co

Rancho Cucamonga, CA, based Basin Water Inc. (NASDAQ:BWTR) announced that on September 14, 2007, it completed the acquisition of Mobile Process Technology, Co. (MPT), a provider of technology and services to the water treatment and industrial process markets. Under terms of the agreement, Basin Water has purchased the stock of MPT for approximately $11.8 million, with approximately 40% of the total paid out in Basin Water shares and the remainder in cash. MPT, with 24 employees and headquartered in Memphis, TN, is forecast to have annual sales of approximately $6 million for 2007. The companies' management state that the combination is expected to be complementary. Basin Water employs water treatment technologies including its own proprietary, scalable ion-exchange wellhead treatment system, for a broad range of clients.